Saudi IPI Rose by 1.6 Percent During July

The Industrial Production Index (IPI) in the Kingdom of Saudi Arabia rose by 1.6% for the month of July compared to the same month in 2023. Data issued by the General Authority for Statistics (GASTAT) explained that the July industrial production index report, released today, shows increased activity in manufacturing, electricity, gas, steam, air conditioning, water supply, sanitation, and waste management. The GASTAT indicated that the sub-index for manufacturing activities rose by 4.6% compared to July of the previous year, while the sub-index for mining and quarrying activities decreased in July 2024 by 0.8%. The sub-index for electricity, gas, steam and air conditioning supply activity also recorded an increase of 8.2%, and the sub-index for water supply and sanitation and waste management and treatment activities recorded an increase of 1.1%, compared to July of the previous year. The index of oil activities decreased in July of this year by 1.1%, while the index of non-oil activities increased by 8.2 %, compared to the same month in 2023. It's important to note that the General Authority for Statistics provides several industry-related statistical products, including the Industrial Production Index. This economic indicator tracks changes and developments in industrial production volumes using data from the monthly Industrial Production Survey, which focuses on industrial establishments in mining, quarrying, manufacturing, and electricity and gas supply Source: Qatar News Agency